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Aston Lark revenues up 6% since merger

Chief executive Peter Blanc said he was delighted with the first set of annual results since the merger of Aston Scott and Lark Group

Aston Lark has announced an estimated revenue increase of 6% in its first set of annual results.

The new enlarged group, formed from the merger of the Aston Scott and Lark Groups in September 2017, is now the fifth largest chartered insurance broker in the UK and presented the figures as if the company had been trading since 1 January 2018.

The 6% increase took revenue to £52m for 2017, with organic revenue growth just under 2%.

EBITDA grew by 6%, with the adjusted number for 2017 at £14m.

This group stated this is expected to be nearer £20m in 2018 as a result of recent acquisitions and merger benefits.

Chief executive Peter Blanc said he was delighted with the merger and subsequent results.

He added: “The results reflect a continuing positive performance of the combined group demonstrating progress whilst making significant investment in its people, underlying IT applications and infrastructure.”

Integration

On 2 July the group’s two main broking businesses Aston Scott and Lark Group integrated.

Blanc added: “The integration has provided the platform for us to continue with the delivery of our mission to become the UK’s most trusted Chartered insurance broker servicing our clients’ needs across a broad spectrum of products all delivered with passion, integrity and expertise.”

In March 2018, Aston Lark made its first acquisition since the merger with the acquisition of Ingram Hawkins & Nock Limited, and Blanc has promised more acquisitions to come.

“The business is well positioned to progress over the coming months and years with a continued focus on organic growth as well as considering further selective strategic acquisitions as part of our growth plans,” Blanc said.

“When creating the vision for our newly merged company, we decided to place ‘care’ at the heart of everything that we do; care for our clients, care for our staff and care for our reputation as a national broker which is skilled at successfully acquiring and integrating like-minded insurance brokers.

“I am looking forward to the exciting next phase of our group’s development.”

The group now employs over 630 people in 18 offices across the UK placing nearly £260m GWP into the market.